Feb 23
Legacy at Millennium Park developers to pay construction loan, hire new brokers
Chicago, IL (PRWeb) February 13, 2012
Mesa Development LLC and Walsh Investors paid from construction loan of $ 275.5 million for the heritage of the Millennium Park, a luxury 72-story high rise condominium located on 60 East Monroe, overlooking Millennium Park in downtown Chicago. The loan with the proceeds of the closing unit and a new loan of $ 60.6 million by the U.S. bank and private bank refunded.
In addition, the Mesa / Walsh partnership hired Chicago-based residential brokerage @ properties sales and marketing for the building, where more than half of the 356 condominiums have to date been sold to management.
Currently, the Legacy offers one-, two-and three-bedroom floor plans, as well as a handful of penthouse residences ranging from 875 to 9301 square meters. Prices range from the high-300, $ 000′s to $ 6 million.
We have positioned the Legacy to benefit from the recovery in downtown luxury condo market, clinging to last year. Today’s buyers a building rock-solid financially and has a balanced supply of homes on the market priced to enjoy, “said Richard A. Hanson, principal and founder of Mesa Development LLC.
the new loan is believed to be the largest and one of the only refinancing of a loan condominium construction in downtown Chicago since the credit pipeline for condominium development to conclude in 2008.
“Relationships are the cornerstone of The Private Bank business model and our long and valuable relationship with customers, we offer this project,” said Larry D. Richman, President and Chief Operating Officer, PrivateBancorp, Inc.. parent to the Private Bank. “We are pleased to clients and projects that ensure the continued vitality of our great city to support.”
U.S. Bank is proud to be part of what was to be and will continue to be a great project for Chicago, said. Don Pafford, Chicago Market Manager for U.S. Bank Commercial Real Estate. Chicago is still an important market for our bank, and the Millennium Legacy Park is a representative of our commitment.
will
Meanwhile, the addition of @ properties in the project The Legacy at Millennium Park greater exposure among brokers and buyers both in town and on the North Shore give accordingly. Gregory Ciambrone, vice president of Walsh Investors.
was on a stage of the project, with homes ready to deliver, where in front of brokers is important for the completion of our sales program. @ Properties has the largest market share in the city and a strong presence on the North Shore, so they come up against us to bring buyers, Ciambrone said.
Value drives the market today, even the luxury market. We feel very confident that luxury buyers are going to react to the value and opportunity offered by the Legacy, said Michael Golden, co-founder of @ properties. This is the complete package is an amazing building, lifestyle and location.
the
designed by Chicago-based. Solomon Cordwell Buenz, The Legacy Millennium Park has received widespread praise for its contemporary architecture and upscale amenities. It was a finalist for the 2010 Emporis Skyscraper international award and was named the best new residential building of 2011 by the Friends of Downtown. The tall, slender tower is wrapped in floor-to-ceiling glass, offering an unobstructed view of Millennium Park, Grant Park and Lake Michigan from most units. It also offers a variety of luxury amenities including an indoor pool and spa, fitness center, two community rooms, sky gardens, 24-hour doorman and on site concierge.
A unique facility is a connection to the adjacent University Club of Chicago. A sky-bridge on the 13th floor Legacys can build the residents club members direct access to the club through his fitness and squash courts. All Legacy Millennium Park residents have access to a number of club services, including hotel rooms for visiting guests. The University Club is an independent private membership club with admission ruled by its own policies and laws.
Legacy Millennium Park sales center is located in the building at E. Monroe 60. Hours are 12:00 to 05:00 daily. For more information, call (312) 252-0060 and http://www.TheLegacyAtMillenniumPark.com visit.
About
Mesa Development LLC
Mesa Development is a Chicago-based National Real Estate Investment and Development firm with a proven record of success in the completion of urban, mixed use residential projects. In addition to the legacy, Mesa and Walsh Investors successful completion of the Heritage at Millennium Park luxury condominium in Chicago in 2005. For more information, visit http://www.mesadevelopmentllc.com.
about Walsh Investors
Walsh Investors, LLC is the investment arm of the Walsh family, owners of the Walsh Group. The Walsh Group, headquartered in Chicago, is one of North America’s largest general contracting, construction management and design-build firm. Walsh Investors, through direct investment and various partnerships and joint ventures, develop or invest in office, industrial and residential developments in the United States and Canada.
about @ properties
Founded in 2000, @ properties is the No. 1 residential real estate in the city of Chicago by market share and the third largest brokerage in Northern Illinois. @ Properties is Chicagos leading firm for sales and marketing of condominium developments and conversions. The company has offices in River North, Streeterville, Lincoln Park, Bucktown, Lakeview, Evanston, Winnetka and Lake Forest, and the opening in Highland Park, in early 2012. For more information, visit http://www.atproperties.com.
on U.S. bank
U.S. Bancorp, with $ 340 billion in assets as of December 31, 2011, the parent of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3085 banking offices in 25 countries and 5053 ATMs, and provides a comprehensive range of banking, brokerage, insurance, investments, mortgages, trust and payment products to consumers, businesses and institutions. U.S. Bancorp and its employees are committed to improving the communities they serve, the company that the 2011 Spirit of America Award, the highest honor bestowed on a company by United Way. Visit U.S. Bancorp on the web at http://www.usbank.com.
about The Private Bank
Private Bank is part of PrivateBancorp, Inc., which through its subsidiaries, customized business and personal financial services to middle market companies, business owners, managers, entrepreneurs and families in all markets and communities it serves. As of December 31, 2011, the company has 34 offices in 10 countries and $ 12.4 billion in assets. The company’s website http://www.theprivatebank.com.
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